Likelihood, Sufficiency and Ancillarity Invited Papers

Trabajos de Estadistica Y de Investigacion Operativa

, Volume 31, Issue 1, pp 143-166

First online:

Likelihood and the Bayes procedure

  • Hirotugu AkaikeAffiliated withThe Institute of Statistical Mathematics

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Summary

In this paper the likelihood function is considered to be the primary source of the objectivity of a Bayesian method. The necessity of using the expected behavior of the likelihood function for the choice of the prior distribution is emphasized. Numerical examples, including seasonal adjustment of time series, are given to illustrate the practical utility of the common-sense approach to Bayesian statistics proposed in this paper.

Keywords

Likelihood Bayes procedure Aic Seasonal adjustment